CEO of Morgan Creek Capital predicts growth of bitcoin to $400 000
May 10, 2019
The forecast for $400,000 for bitcoin seems unrealistic after the bear market of 2018, but in the crypto industry there are many optimists who make the most daring forecasts and are right.
In a recent interview, Morgan Creek Capital founder and CEO mark Yusko said bitcoin could well reach $400,000, and in the long run, that figure doesn't seem crazy.
USCO claims that bitcoin can be the best replacement for gold. The main cryptocurrency is often called digital gold because it has a lot in common with one of the oldest assets. However, in the digital age, you are unlikely to see Millennials investing in bulky gold bars. "Bitcoin is much easier to move. Much easier to separate. A gold bar is difficult to break into pieces. Bitcoin has all these important qualities that I believe are superior to gold," said Yusko.
Therefore, the mathematics behind his prediction is quite simple: you need to divide the total market capitalization of gold into bitcoins in circulation to get an estimate of $400,000. It is noteworthy that the same figure was recently proposed by another cryptanalyst. According to Yusko to dostich this assessment, bitcoin may need decade or even more.
Bitcoin optimist Mike Novogratz, head of the cryptocurrency the company Galaxy Digital, said that bitcoin may re-test your current ATH of $20 000 in the next 18 months.